US Takes Historic Leap as CFTC Approves Spot Crypto Trading on Regulated Futures Exchanges
The United States has crossed a major regulatory milestone. In a move that could redefine the country’s digital asset landscape, the Commodity Futures Trading Commission (CFTC) has officially approved spot crypto trading on federally regulated futures exchanges — a first in American financial history.
Acting CFTC Chair Caroline Pham announced the approval on Thursday, framing the decision as a direct response to policy directives issued by U.S. President Donald Trump. She said the agency aligned its decision with recommendations from the President’s Working Group on Financial Markets (PWG) on Digital Asset Markets, input from the Securities and Exchange Commission (SEC), and insights gathered during the CFTC’s “Crypto Sprint” initiative.
Pham underscored the moment’s significance, stating:
“For the first time ever, spot crypto can trade on CFTC-registered exchanges that have been the gold standard for nearly a hundred years, offering the customer protections and market integrity Americans deserve.”
This marks a dramatic shift in how digital assets may soon be accessed and traded in the U.S., moving them under the umbrella of long-established, federally supervised market infrastructure.
Shift in Leadership as Regulatory Framework Evolves
Caroline Pham, who stepped in as acting chair in January when Trump took office, is expected to depart after the Senate confirms her replacement. The nominee for the position, Michael Selig, currently an SEC official, is awaiting a full Senate vote after advancing out of committee.
Behind the scenes, many expect Selig’s leadership to shape the next era of U.S. crypto oversight, especially as regulators push toward modernizing market structure rules for digital assets.
Adding to the transition, the CFTC currently has four vacant commissioner seats. As of Thursday, the Trump administration had not announced nominees to fill these positions, leaving substantial gaps in the regulator’s leadership as the industry undergoes its biggest structural evolution yet.
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Exchanges Race to Launch Spot Crypto Trading Under CFTC Oversight
Bitnomial is positioned to be among the very first derivatives exchanges to list approved spot crypto products, with its launch planned for next week. The firm operates under the CFTC’s designation as a Designated Contract Market — the same classification Coinbase secured in 2020.
This approval raises expectations that more exchanges will follow, potentially accelerating institutional participation and reshaping liquidity flows across the crypto ecosystem.
Congress Prepares to Finalize Digital Asset Market Structure Bill
Policymakers are also racing to update federal rules. U.S. senators are expected to soon advance a long-awaited digital asset market structure bill — legislation designed to define how authority will be shared between the CFTC and the SEC.
Draft frameworks circulating in Washington suggest giving the CFTC expanded jurisdiction over certain digital assets — a move that industry advocates argue could provide long-needed clarity and encourage responsible innovation across the crypto market.
